News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Relatively quiet Canadian economic calendar through the end of October will leave CAD-crosses particularly exposed to broader risk trends, especially those in stocks and oil markets. Get your $USDCAD market update from @CVecchioFX here:https://t.co/kpUQTaO6rm https://t.co/tcmSJh9B8d
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.32% 🇨🇦CAD: 0.05% 🇦🇺AUD: -0.00% 🇯🇵JPY: -0.28% 🇪🇺EUR: -0.34% 🇬🇧GBP: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XWscJjWQHq
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.02% Gold: -1.05% Silver: -1.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ySjnrTUWnk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.54%, while traders in EUR/USD are at opposite extremes with 72.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tyXcZZL0qf
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.39% France 40: 0.32% FTSE 100: 0.26% US 500: 0.01% Wall Street: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ljSeRVDbh8
  • Gilead Sciences receives FDA approval for Remdesivir - BBG
  • $GILD | Gilead Sciences receives FDA approval for coronavirus treatment remdiesivir
  • https://t.co/WnuPTDjq0J
  • Can bulls continue to push? While the bullish theme in Gold remains on hold, buyers haven’t been so bashful around Bitcoin. Get your $btc technical analysis from @JStanleyFX here:https://t.co/yLoAnTe6Py https://t.co/HD2spNq4FC
  • Precious Metals Update: #Gold 1904.24 (-1.04%), #Aluminum 1843.50 (+0.49%), and #Copper 6991.50 (+1.34%) [delayed]
Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

2015-06-10 06:01:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar Still Waiting for Direction Guidance in a Choppy Range
  • S&P 500 Pause to Digest Losses After Three Days on the Downside
  • Crude Oil Rebounds, Gold Prices Oscillating in Familiar Territory

Can’t access the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

US DOLLAR TECHNICAL ANALYSIS – Prices continue to mark time in a choppy range after opening June at a seven-week high. Near-term support is at 11887, the 38.2% Fibonacci retracement, with a break below that on a daily closing basis exposing the 50% level at 11839. Alternatively, a move above the 12024-43 area (June 1 and June 5 highs) opens the door for a challenge of double top resistance at 12149.

Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

Daily Chart - Created Using FXCM Marketscope

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

S&P 500 TECHNICAL ANALYSIS – Prices paused to digest losses after three consecutive days of downward momentum. Sellers are now challenging the 61.8% Fibonacci retracement at 2077.20, with a break below that exposing the 76.4% level at 2063.00. Alternatively, a move back above the 50% Fib at 2088.60 targets the 38.2% retracement at 2100.00.

Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

Daily Chart - Created Using FXCM Marketscope

GOLD TECHNICAL ANALYSIS – Prices are digesting losses after dropping to a three-month low. A break below the 38.2% Fibonacci expansion at 1169.31 exposes the 50% level at 1149.85. Alternatively, a move above support-turned-resistance at 1178.09, the March 31 low, targets the 23.6% Fib at 1193.38.

Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

Daily Chart - Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS – Prices continue to oscillate above support at a rising trend line guiding the move higher since mid-January. A break below this barrier (now at 62.64) exposes the 38.2% Fibonacci retracement 60.27. Alternatively, a reversal above downward-sloping resistance at 65.13 targets the May 6 high at 69.60, followed by the 38.2% Fib expansion at 70.25.

Gold and SPX 500 Digesting Losses, Oil Bounces from Trend Support

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES